Court approves claims process for Stanford victims

A federal judge in Dallas has approved the process for paying claims submitted by Stanford Financial’s victims. The move clears the way for thousands of former Stanford investors, who have been waiting for more than three years for claims, to find out how much of their losses they’re likely to recover.

It’s likely to be a pittance. The court-appointed receiver, Ralph Janvey, has been able to find only a small portion of the more than $7 billion that is believed to have been lost when Stanford collapse in February 2009, amid allegations that it was a huge Ponzi scheme.

Under the terms of the court order, all claims must be submitted by midnight on Sept. 1. You can see more details on how and where to submit claims here:Stanford Prnw Final